2026-01-11 01:21:40

Imagine an extreme scenario: U.S. regulators suddenly impose strict controls on all on-chain RWA, and any USD1 addresses interacting with unauthorized DeFi protocols are frozen, with funds locked and no appeal channels available. It sounds frightening, but behind this hypothetical scenario lies a real issue—the scrutiny risk faced by RWA.

ListaDAO introduces USD1 issued by World Liberty Financial to support lisUSD, which is indeed a good solution. The credit backing of U.S. Treasury bonds gives lisUSD a strong price anchor, making it seem very stable. But what about the other side of the coin? The cost of obtaining this credit is the loss of asset sovereignty.

Compared to native cryptocurrencies like BNB or ETH, USD1 inherently has a structural weakness. At the smart contract level, review mechanisms are usually embedded—that is, the liquidity and freedom of assets on-chain are actually determined by the centralized issuer. This is not as absolutely free as the decentralized world promises.

So the question is: your collateral still appears to be there, but is it really yours? lisUSD’s debt continues to accrue interest, but in an extreme regulatory scenario, you might face the embarrassment of frozen collateral, inability to redeem, or inability to top-up collateral.

This is the most ironic aspect of RWA in the decentralized world— the more you pursue the credit backing of real-world assets, the more likely you are to fall into a centralized control trap. While embracing RWA yields, you need to clearly recognize these potential scrutiny risks.

RWA-1,15%

USD1-0,02%

BNB-0,53%

ETH2,02%

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ETH_Maxi_Taxi

· 01-11 02:25

Stablecoin nesting, I'm just watching without saying anything

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DaisyUnicorn

· 01-11 01:51

This is the price of earning returns. What seems stable on the surface is actually rooted in someone else's land. It feels like being tempted by a honey pot, but forgetting that what’s inside might be shackles. At the moment of collateral freeze, I finally understand what "visible but intangible" means. So, the truly free assets are only native chain assets; everything else is a compromise with centralization. The returns on lisUSD are indeed attractive, but this risk... is it worth it? Decide for yourself. Instead of chasing high yields, it's better to first understand whether you can accept the risks of censorship. Backed by real-world assets sounds great, but in reality, it’s just exchanging autonomy for interest. Speaking of which, the recent USD1 operation truly exposed the dual nature of RWA. It’s a bit ironic, isn’t it? The more we try to rely on real-world credit, the further we are from decentralization. In this situation, all we can do is stay alert and not let the pursuit of returns blind us.

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MissedTheBoat

· 01-11 01:36

Stablecoins look appealing, but they're actually shackles. Even USD1 can't escape.

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HypotheticalLiquidator

· 01-11 01:36

The moment collateral is frozen, health factors plummet straight down, and the dominoes are about to fall. USD1 sounds appealing, but it's actually a bomb planted for yourself, ready to explode once regulation comes. True decentralization has already died; RWA is just centralized finance disguised as blockchain. Don't deceive yourself. This wave of risk control thresholds should have been lowered long ago. Are you only realizing it now? Is lisUSD stable? Stable what? Just a line of code to freeze. With regulation hanging overhead, your collateral is worthless, and there's no chance to top up. Another illusion of asset sovereignty—wake up, everyone.

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CoffeeOnChain